Which of the following is an example of scarcity?
A) If you choose to play video games, you will not have as much time for exercise.
B) If a city uses an acre of land to build a park, there will be less land for houses.
C) If I decide to buy a new car, I may not have enough money to go away on vacation this year.
D) All of the above are examples of scarcity.

Question

Quizplus · Accepted Answer

All of the choices presented exhibit the concept of scarcity. In each scenario, a choice must be made between different options because resources (time, land, money) are limited, which means that one option must be given up or compromised in some way. This is the very essence of scarcity.

Which of the Following Is an Example of Scarcity